Coalbed Methane (CBM) Corral Message Board

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Gold/Mining/Energy : Coalbed Methane (CBM) Corral

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From: LoneClone	12/6/2007 9:47:08 PM
	of 365

Stealth Shows Strong Growth in Shale Gas and Sets 2008 Drilling Program Thu Dec 6, 5:04 PM ca.news.finance.yahoo.com SLV tsxventure CALGARY, Dec. 6 /CNW/ - Stealth Ventures Ltd. (the Company) is please to announce that it expects to exit the 2007 drilling campaign with a production rate of more than 300 BOE/day. With the majority of its exploration completed in the 2007 drilling program, the Company is gearing up for an aggressive 2008 campaign with a total of 80 shale gas wells to be drilled in the Wildmere area of Alberta. The program will be beginning in mid-January with 12 wells to be completed prior to spring break-up and the remaining wells to commence in the summer of 2008. The Company has completed its first round of development drilling which was both under budget and ahead of schedule. Full-cycle costs continue to decrease in the competitive pricing market for services and the Company expects this trend to maintain into the new year with a continued decrease in capital costs. In the fall of 2007 the Alberta Government announced that it would be making changes to the royalty regime which would affect the Crown royalties paid for oil and natural gas. These changes were finalized in late October, and on the positive side, the Government acknowledged unconventional resources as a key part to the future success of Alberta's oil and gas development. For the Company's shale play this is going to mean a decrease in royalties paid from an average of 13% to as little as 5% when the new regime is implemented January 1, 2009. The Company's Colorado Shale gas properties are classified as low productivity gas wells for the production cutoffs used in the Government's sliding scale royalty regime which is based on production rate and the price of natural gas. This will have positive fiscal effects for the Company up to a pricing point of $11.00/MCF. If the price increases above $11.00/MCF the Company will pay an additional 1 to 6% from the current royalty structure. In addition, the Government will be implementing a shallow rights reversion program which may in the future enable the Company to access additional lands for plays like the shallow Colorado Shale which have previously been held inactively by deeper production. The Company believes that these Government initiatives, coupled with the strong production results from the Wildmere property, provide a solid platform for long-term corporate growth in 2008 and years to come. Stealth is a Calgary-based junior oil and gas Company whose expertise and focus is on unconventional gas reserves including CBM, shale gas and tight gas sand reservoirs. STEALTH VENTURES LTD. "W. Robert Bell" Per: W. ROBERT BELL Chief Executive Officer THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. Contacts W. Robert Bell CEO Mark J. Roth CFO Derek Krivak COO Stealth Ventures Ltd. Tel.: (403) 514-9998 Fax: (403) 514-9995 Emails: investorrelations@stealthventures.ca

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